-Livemint.com Spoilage and pilferage are not something the country can afford given its low ranking in the hunger index The Reserve Bank of India (RBI) recently approved a proposal to restructure around Rs30,000 crore of food credit given to Punjab state agencies, allowing for the conversion of cash credit into a 20-year loan at a lower interest rate. The central bank also sanctioned a cash credit limit of Rs26,000 crore for this...
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Six-month spread: Kerala finally chews over Food Security Act
-The New Indian Express THIRUVANANTHAPURAM: After facing subsequent delays, National Food Security Act (NFSA), 2013, will be finally rolled out in the state in six months. In a significant decision, the Cabinet on Thursday decided to issue new ration cards - which will see BPL/AAY cards replaced with priority category cards - by December. The Cabinet also cleared a proposal to rank ration card-holders at the state level to determine the priority...
More »Punjab foodgrain scam: Top bankers say could stop lending to state
-PTI The decision was taken by a consortium of banks which held a meeting in New Delhi. Some thirty odd bankers led by State Bank of India, which are staring at heavy losses to the tune of Rs 12,000 crore from the unfolding food scam in Punjab, on Monday discussed all options, including to stop lending to the state government. The decision was taken by a consortium of banks which held a meeting...
More »Grain vanishes from Punjab Godowns; may burn Rs 12,000-crore hole in bank books -Sangita Mehta & MC Govardhana Rangan
-The Economic Times MUMBAI: The splotch of red ink on bank balance sheets is set to become bigger as a new scandal in the form of disappearing food stocks in Punjab Godowns threatens to burn a Rs 12,000-crore hole in their books and embarrass the Parkash Singh Badal administration. The Reserve Bank of India (RBI) has ordered all banks with exposure to the Punjab government's food borrowing programme to provide for potential...
More »More than Make in India, Jaitley Needs to Focus on Farm in India -Devinder Sharma
-TheWire.in We are in a moment when the global economy shows no signs of revival; Russia and Japan are faced with recession, and emerging economies like Brazil and South Africa are in dire straits. There is no silver lining visible as far as domestic industrial growth is concerned. At such a time, all eyes are on Union finance minister Arun Jaitley to see how he plans to sustain economic growth that...
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